Hannover Re, the world’s third largest reinsurer, has decided to offer reinsurance cover for the to encourage insurance companies to participate in the scheme.
The global reinsurer is in talks with several Indian insurers for the purpose. Ankur Nijhawan, MD Hannover Re Risk Management Services India, reported recently.
Having a reinsurance cover will encourage more Indian insurance companies to participate in the PMSBY scheme and improve its penetration in India, he said.
Currently, public sector general insurers are taking the lead and promoting PMSBY in a big way in association with banks.